Tata Motors, on Tuesday, announced that it will increase the price of its commercial vehicles up to 5 per cent. The price rise will come into effect from April 1.
The price hike will vary according to individual models and variants.
"The decision to increase prices is a result of the company’s efforts to comply with the more stringent BS6 phase II emission norms," Tata Motors said in a statement.
The automaker said as the company transitions its entire vehicle portfolio to meet BS6 phase II emission norms, customers and fleet owners can expect a range of cleaner, greener, and technologically superior vehicles that offer higher benefits and lower total costs of ownership.
Meanwhile, shares of Tata Motors rose 0.43 per cent on Tuesday to close at Rs 412.50.